Oil Field Bio-solvents Market – Demand for Hydrocarbons to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#BioChemicals–The latest market research report by Technavio
on the global
oil field bio-solvents market predicts a CAGR of over 4%
during the period 2017-2021.

The report segments the global oil field bio-solvents market by type
(hydrocarbons, alcohols, glycols, ester, and ether) and by geography
(the Americas, EMEA, and APAC). It provides a detailed illustration of
the major factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

Here are some key findings of the global oil field bio-solvents
market, according to Technavio chemicals
and materials researchers:

• Increasing demand for environment-friendly products: a major market
  driver
• In 2016, the hydrocarbons segment dominated the market by occupying
  69% share
• The Americas dominated the global oil field bio-solvents market with
  68% share in 2016
• Ashburn Chemical Technologies, Croda, Stephan Company, and The Dow
  Chemical Company are the leading players in the market

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Increasing demand for environment-friendly products: a major market
driver

Increasing demand for environment-friendly products is one of the major
factors driving the global oil
field bio-solvents market. The global oilfield bio solvents markets
have witnessed increasing customer focus and demand for
environment-friendly materials or products, such as green and bio
solvents. The need for sustainable, and greener chemicals has prompted
numerous research activities into renewable feedstock processing. Plants
and a variety of wastes are being exploited to yield chemicals of
interest.

According to Kshama Upadhyay, a lead analyst at Technavio for bio-chemicals
and bio-materials research, “The development of bio solvents is
considered an important step towards a more sustainable chemicals
industry. The increased preference for such solvents is not only because
of the biosynthesis of these compounds but also due to the excellent
degradable properties of these solvents.”

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Americas: largest global oil field bio-solvents market

Technavio researchers anticipate high growth for the global oil
field bio-solvents market in the Americas due to the environmental
regulations regarding VOC emissions of solvents, especially in North
America. The market in the Americas is witnessing an increasing rate of
adoption of oilfield bio solvents products that are
environment-friendly. Furthermore, regions such as North America are
witnessing rapid expansion of oilfield drilling and production.
Increasing development of shale oil has led to increased demand for
oilfield bio solvents in North America.

Competitive vendor landscape

The leading players such as Ashburn Chemical Technologies, Croda,
Stephan Company, and The Dow Chemical Company are focusing on the
development of multi-purpose and natural bio-solvents. For instance, one
of the key players Ashburn Chemical Technologies offers a natural
bio-solvent under the brand name ENVIRO-GREEN EXTREME. This solvent is
used as a cleaning and degreasing agent in oilfield equipment. The
global oil field bio-solvents market is significantly concentrated due
to the presence of a few key players who account for a majority of the
market share.

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oil field bio-solvents market report free of cost

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